This is the summary of the Half-Year Report for January-June 2023. The full Half-Year Reportis attached to this release and is also available on the company’s website at www.lifeline-spac1.com
1 January –
Lifeline SPAC I Plc (“Lifeline SPAC I” or the “Company”) has continued to evaluate and analyse high-growth technology companies inFinland and other Nordic countries during the review period.-
The operating loss for the review period was
EUR 0.7 million and the profit wasEUR 0.2 million . Typically for a SPAC company in the search phase, the Company had no revenue during the review period. -
At the end of the review period, the Company’s cash and bank receivables were approximately
EUR 1.2 million . -
The funds deposited on the Company’s escrow account were approximately
EUR 101.5 million [1].
The Half-Year Report is unaudited.
CEO
“Lifeline SPAC I has continued to operate systematically and proceeded with the analysis of high-growth potential technology companies in different stages of maturity in
Even though we have also assessed new potentials, our main focus under the reporting period and thereafter has been in a more profound analysis of and dialogue with such already identified companies that we deem most interesting for our shareholders.
One of the material equity market themes since our IPO has been the strong decline in market capitalisations and valuation levels of listed companies in the technology sector. We also have been closely monitoring this development. Although there are still uncertainties in the capital markets and different views of the outlook, the market capitalisations and valuation levels in the technology sector showed signs of appreciation and stabilisation during the reporting period and also thereafter. For instance, compared to the market values that prevailed at the beginning of
From Lifeline SPAC I’s perspective, a potential negative factor in the strong decline in valuation levels has been the slowness in discussions with some target companies. Should the valuation environment in the technology sector stabilise, we expect that it may impact Lifeline SPAC I’s activities positively.”
Future Outlook
Lifeline SPAC I is in the search phase, in which it identifies and analyses possible target companies with the aim to complete the Acquisition of a high growth potential Nordic technology company within 36 months of the IPO. Taken the nature of the Company’s activities as a SPAC in a search phase, the Company does not issue any specific guidance or other future outlook.
Audio Conference
Lifeline SPAC I will organise an audio conference for investors and media on
For further information, please contact:
Tuomo Vähäpassi, CEO, Lifeline SPAC I Plc
tuomo.vahapassi@lifeline-spac1.com
+358 40 736 0676
[1] On
Lifeline SPAC I in brief
Attachments
- Download announcement as PDF.pdf
- Lifeline SPAC I Plc_Half-Year Report_23H1.pdf
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